REG - Allergy Therapeutics - Update on funding

Allergy TherapeuticsAnnouncement

27/08/2024 07:00

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RNS Number : 6869B  Allergy Therapeutics PLC  27 August 2024

 

Allergy Therapeutics plc

("Allergy Therapeutics", the "Group" or "Company")

 

 

Update on funding

 

27 August 2024 Allergy Therapeutics plc (AIM: AGY), the integrated commercial
biotechnology company specialising in allergy vaccines, today announces an
update on the Group's working capital position.

 

Following discussions with major shareholders SkyGem Acquisition Limited (an
affiliate of ZQ Capital Management Limited) and Southern Fox Investments
Limited (together the "Lenders"), the Lenders have agreed to provide a further
£5m from the existing amended loan facility (the "Amended Loan Facility"),
details of which were announced on 27 December 2023.

 

As a consequence, the Group has successfully extended its cash runway into
late September.

 

There remains a further £12.5m of uncommitted funding available under the
Amended Loan Facility and the Company continues to explore further funding
options to support its ongoing operations and development pipeline.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulations.

 

 

ENDS

 

Allergy Therapeutics

Manuel Llobet, Chief Executive Officer

Shaun Furlong, Chief Financial Officer

+44 (0)1903 845 820

 

Cavendish Capital Markets Limited (Nominated Adviser and Broker)

Geoff Nash / Seamus Fricker / Rory Sale

Nigel Birks/Tamar Cranford Smith - Sales

+44 (0)20 7220 0500

 

ICR Consilium

Mary-Jane Elliott / David Daley / Davide Salvi

+44 (0)20 3709 5700

allergytherapeutics@consilium-comms.com
(mailto:allergytherapeutics@consilium-comms.com)

 

About Allergy Therapeutics

Allergy Therapeutics is an international commercial biotechnology company,
headquartered in the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free immunotherapy vaccines that have the
potential to cure disease. The Group sells proprietary and third-party
products from its subsidiaries in nine major European countries and via
distribution agreements in an additional ten countries. Its broad pipeline of
products in clinical development includes vaccines for grass, tree, house dust
mite and peanut. For more information, please see www.allergytherapeutics.com
(http://www.allergytherapeutics.com) .

 

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